Afford Anything | Get Smarter With Money

Over half of young Americans avoid looking at their money to cope with stress, and the CEO of Acorns says he was one of them. In his twenties, even a guaranteed 2.5% return felt too scary to touch, and it cost him a decade of growth.Noah Kerner is CEO and chairman of Acorns, the automated saving and investing app whose customers have invested more than $33 billion, often starting with spare change.👉 Acorns: https://affordanything.com/acornsIn this episode we discuss:Why avoiding your money feels like relief, and what it quietly costs youHow to make saving so small you can't talk yourself out of itWhy so many people feel pessimistic about money despite a long bull marketHow the app you use can change what you do when markets dropWhy the best investing strategy is usually the boring oneHow to tell patience from prediction when betting looks like investingHow a founder copes when his body forces him to stop workingIf you've been putting off looking at your accounts, or you're tempted by faster ways to grow your money, this conversation offers a calmer path forward.⏱️ TIMESTAMPSNote: Timestamps may vary slightly depending on dynamic ad placements.(00:00) Over half of young people avoid their money(03:07) Why we avoid money(05:43) How families pass down fear(07:54) Automate investing with spare change(13:32) Why strong markets feel scary(15:57) How apps shape money habits(21:07) Why betting feels so tempting(27:08) Patience versus prediction(28:44) Buy now, pay later pitfalls(31:40) Build businesses that help people(34:56) Noah’s path to Acorns(41:16) Give small shareholders a voice(46:36) When health forces work aside(51:10) Business risks and team building(55:11) Paula’s three key takeaways🔗 RESOURCES MENTIONED👉 AVOIDING YOUR MONEY COST HIM A DECADE. FIND OUT IF YOU'RE AN AVOIDER TOO: https://affordanything.com/fiire👉 Acorns: https://affordanything.com/acornsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A bond fund that lost 38% feels like proof you should have bought individual bonds instead. But individual bonds would have lost value too; you just wouldn’t get a statement telling you so.Former financial planner Joe Saul-Sehy joins Paula to answer three listener calls. The first comes from an executor deciding whether to move his late father’s $500,000 brokerage account to cash during probate (the court process of settling an estate). The second is from an investor whose bond fund lost 38% in six years, and the third is from a 401(k) plan manager of 23 years who pushes back on Joe’s take on target-date funds.In this episode, we discuss:How an executor can protect an estate’s value without market timingWhy splitting the money 50/50 between stocks and cash can work, if every heir agreesWhy individual bonds lose value when rates spike too, even when no statement shows itHow a bond advertising 6% can still lose you money if you overpay for itWhen a bond fund makes more sense than individual bonds, and vice versaWhy short-term bonds can drag down a long-term portfolioWhether target-date funds are a smart default or a first step to outgrowIf you’re settling a parent’s estate, second-guessing your bonds, or wondering whether your 401(k) default is good enough, this episode gives you a way to weigh the tradeoffs instead of reaching for a one-size-fits-all rule.⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements.(00:00) Why disability insurance costs so much(09:10) An executor’s $500K dilemma: stay invested or cash out?(11:41) Why Joe would move the estate to cash(15:13) The 50/50 split both hosts can live with(24:56) Her bond fund lost 38%. Now what?(27:33) Why individual bonds wouldn’t have dodged the loss(32:48) How a “6%” bond can still lose money(35:20) Why Paula bought her first bonds at 5.2%(53:54) A 401(k) plan manager defends target-date funds(1:05:40) Why so many people ignore their own money🔗 RESOURCES MENTIONEDOUTGROWING YOUR TARGET-DATE FUND? HERE’S WHICH ACCOUNT EACH NEW FUND BELONGS IN 👉 https://affordanything.com/assetlocationFree executor checklist from Stacking Benjamins 👉 https://stackingbenjamins.com/estateBuy Treasury bonds directly from the government 👉 https://www.treasurydirect.govShare your worst investment mistake for a future episode 👉 https://affordanything.com/voicemailSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#761: Roughly 3 million Americans who own private businesses — car dealerships, beer distributors, dental practices — are collectively worth more than ten times the entire Forbes 400. Most of them didn't start rich, and you've probably never heard of a single one.Economists Owen Zidar (Princeton) and Eric Zwick (University of Chicago Booth School of Business) spent more than a decade linking anonymized tax records to the people who own America's private businesses. They share what they found in their new book, The Everywhere Millionaire.In this episode, we discuss:Why owning all of a small business can rival owning a sliver of a startupWhich unglamorous industries quietly produce the most wealthHow to decide whether to buy an existing business or start your ownHow retiring owners and seller financing (paying the owner back over time) open doors for buyersHow to run cheap experiments so no single failure wipes you outWhen to double down on one business versus diversifyWhat the data says about whether you need to be born richIf you're weighing a steady paycheck against owning something yourself, this conversation shows who actually takes that path, what it demands, and how often it pays off.⏱️ TIMESTAMPSNote: Timestamps may vary slightly depending on dynamic ad placements.(02:20) Why 3 million business owners outweigh the Forbes 400(06:13) The overlooked businesses behind America's quiet fortunes(11:22) Why retiring owners could be your buying opportunity(17:31) Own all of something small, not 2% of a unicorn(21:36) Buy a business or start one?(29:24) How to fail small without getting wiped out(34:35) What yacht and private jet data revealed(44:20) Most successful founders didn't grow up rich(01:06:31) Double down or diversify once it works?(01:18:51) Should you leave a high-paying job for this?🔗 RESOURCES MENTIONED👉 Buy a retiring owner's business or build your own? Find the ownership path that fits your money and risk: https://affordanything.com/fiire👉 The Everywhere Millionaire (book): https://link.amazon/B04y1xfaU👉 The Everywhere Millionaire on Substack: https://everywheremillionaire.substack.com👉 The Millionaire Next Door, by Thomas J. Stanley and William D. Danko: https://link.amazon/B01HtGgHgSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#760: A couple in their late 30s and early 40s with $1 million invested may never need to save another dollar for retirement, because left alone, that money could grow to about $4 million. The harder question isn't the money. It's which of them keeps working to carry the family's health insurance.Paula and Joe start with Beth, an accountant married to a burned-out tech worker, who wants to know whether they can cut back on work now. Then they tackle a retiree's Ivy League financial aid questions and a New Yorker asking whether renting forever is a financial death sentence.In this episode, we discuss:How to tell if you've saved enough for retirement to stop contributingWhy one spouse should stay employed to carry the family's health insuranceWhere to find part-time work in fields that rarely advertise itHow to turn a high savings rate into more time with young kids nowWhy lowering your income may not unlock more Ivy League financial aidWhy test prep may matter more than hiring an admissions counselorWhy renting in an expensive city isn't throwing money awayIf you've built a solid nest egg but feel stuck working five days a week, this episode shows how to check whether you can ease off now instead of waiting for full retirement.⏱️ TIMESTAMPSNote: Timestamps may vary slightly depending on dynamic ad placements.(06:53) $1 million by 40 and burned out: can they downshift?(10:18) Why one spouse should keep the health insurance(11:41) Where to find part-time work that still pays well(14:41) Why work-life balance comes in seasons, not days(16:49) What it really means to stop saving for retirement(18:10) How $1 million could grow to $4 million untouched(20:47) Turn your savings gap into time with your kids(27:40) Why a lower income may not unlock Ivy aid(37:12) Why test prep beats an admissions counselor(50:32) Is renting really throwing money away?🔗 RESOURCES MENTIONED👉 RETIREMENT ALREADY COVERED? MAP WHERE YOUR NEXT DOLLAR SHOULD GO — ON ONE FREE PAGE: https://affordanything.com/cornerstone👉 Joe's conversation with Lynda Gratton on taking breaks and changing careers over a longer life (Stacking Benjamins SB1898): https://www.stackingbenjamins.com/rethinking-retirement-100-year-life-1898👉 Read This Before Planning for College (Stacking Benjamins x The College Investor): https://www.stackingbenjamins.com/collegeguide👉 The College Investor, Robert Farrington: https://thecollegeinvestor.comSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#759: At 19, Jaspreet Singh bought a rental for $8,000. What followed was a nightmare tenant, a lawsuit, and a later house stripped of its copper, and it taught him what the real estate books leave out. Jaspreet is the founder of Minority Mindset, a personal finance YouTube channel with more than 2.5 million subscribers, and CEO of Briefs Finance. He’s also a licensed attorney who chose to build businesses instead of practicing law. Avoid these 7 expensive rental property mistakes → https://affordanything.com/rent In this episode, we discuss: How hiring the cheapest property manager can cost you the most Why skipping a $200 inspection led to his worst deal ever Why an employee who’s just coasting hurts a small team more than a weak one A simple two-list exercise that shows whether your hard work actually pays How the tax code rewards owners and investors over employees How a terrible market timer who never sold still turned $100,000 into more than $1 million Where AI’s ripple effects could create opportunities beyond the AI companies themselves Whether you’re weighing a first rental, a business, or simply investing more consistently, this conversation shows what each path really costs and how to learn those lessons for less than Jaspreet paid. 🔗 RESOURCES MENTIONED JASPREET LEARNED RENTALS, BUSINESS, AND INVESTING THE EXPENSIVE WAY. MAP YOUR OWN PATH FOR FREE 👉 https://affordanything.com/fiire Minority Mindset on YouTube 👉 https://www.youtube.com/@MinorityMindset Briefs Finance and the free Market Briefs newsletter 👉 https://www.briefs.co Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.